Showing posts from July, 2015


China's share market nose-dived again today plummeting 8.48 per cent to an eight-year low as investors unnerved by the weak economic data on the world's second largest economy dumped their shares to lock in profit despite frantic government efforts to arrest the slide. After a brief rally last week following the USD 3.2 trillion slump, Chinese shares plunged again by 8.48 per cent. It was the worst single-day loss in eight years. The benchmark Shanghai Composite Index plunged 8.48 per cent to close at 3,725.56 points, in the sharpest daily drop since February 27, 2007. The smaller Shenzhen Component Index fell 7.59 per cent to close at 12,493.05 points. Nearly 2,000 shares fell by the 10-per cent daily limit. The plunge ended a six-day rally following government's concerted efforts to arrest the freefall that wiped nearly a third off the value of the market since mid-June. "Historically, it takes time to restore market confidence after such a long period of sharp decl…


The benchmark BSE Sensex found itself on a sticky wicket on Monday, which fell a huge 551 points to 27,561.38, an over 5-week low, amid fears over stricter norms on participatory notes (PNs) and a Chinese stock rout. Nifty met with the same fate, down 161 points. There was heavy selling all around as investors went around booking profits following a SIT report that Sebi should do more to identify end beneficial owners of P-Notes (PNs) and restrict their transfer. Market players felt the move would hit investments. PNs are a popular offshore derivative instrument used by overseas investors to invest in Indian stocks. Other Asian markets did no better, which ended in the red due to worries that China is headed for a sharp slowdown despite the government's efforts to revive it. The Shanghai Composite plunged as much as over 8 per cent. Further weakness in the rupee against the dollar made things worse. Starting lower, the 30-share gauge broke below the crucial 28,000-level before end…


The BSE benchmark Sensex today not just turned things around, but did it in style when it ended the day up 323 points, its highest close in more than three months. The splendid show was primarily driven by bargain hunting in beaten-down stocks, including Sun Pharma, up 3.35 per cent.
"Indian stocks swung back as yesterday’s falls were deemed overdone, and investors hunted for value amid the price falls. It also helped that proposal to amend the Land Bill so as to give more flexibility to states was seen favourably," said Anand James, Co Head Technical Research Desk, Geojit BNP Paribas. There was considerable improvement in sentiment with the adoption of a select committee report on GST Bill by the Upper House of Parliament during the trading hours. Progress of rains and softer oil prices meant RBI gets enough headroom to consider a policy rate cut, which pushed up buying activity. Fresh buying, especially in refinery, banking, auto, power and metal provided further momentum.  …


People travelling in trains can now enjoy KFC's meals on board as the fast food chain has tied up with IRCTC to start a delivery system for passengers. Now a person travelling on train can order KFC meal, while booking ticket through IRCTC from July 20 onwards, under e-catering service initiatives, KFC said in a statement. Presently, this facility is available only on 12 trains passing through New Delhi railway station. However, it will be expanded to Vishakhapatnam, Hyderabad (Kacheguda) and Bangalore (Yeshwantpur) stations over the next 10 days, the statement added. "Consumers will have to visit the IRCTC website or call on 18001034139 (Toll Free) to place their order. A password will then be sent by KFC to the consumer’s mobile phone which will have to be mentioned at the time of delivery," it said. The service will initially be limited to trains which do not have pantry cars and subsequently would be expanded to trains like Rajdhani and Duronto. E-catering service is…


The Reserve Bank today asked banks to levy any late payment penalty on credit card customers, or report them to credit information companies, only if the payment has been due for more than three days.
For banks, RBI said they can treat a credit card as non preforming asset if the 'minimum amount due' has not been paid within 90 days from the due date.
To bring in greater credit discipline as also to provide operational flexibility to credit card issuers, RBI said the 'past due' status of a credit card account for the purpose of asset classification would be reckoned from the payment due date mentioned in the monthly credit card statement. "Consequently, in case of banks, a credit card account will be treated as non-performing asset if the minimum amount due, as mentioned in the statement, is not paid fully within 90 days from the payment due date mentioned in the statement," RBI said in a notification. It further asked banks to report a credit card account as &…


Compensation does not seem to be the only criterion for job satisfaction in India, as only 17 per cent of the people in a survey have stated that they work for money, while 83 per cent opted to work for passion, says
"In today's age there are two types of employees - one for whom compensation is the criteria for job satisfaction and the other segment who pursue their passion to make careers; irrespective of pay," Managing Director (India) Sanjay Modi said.
The revelation from Monster's poll is that the first segment is only 17 per cent as compared to the latter (83 per cent), he added.
According to the survey, 56 per cent of the respondents could not find a job that meets their passion and only 13 per cent of the respondents consider themselves fortunate to follow their passion in their current job.
Understanding this situation, Monster is launching 'Love What You Do' - a campaign that aims at provoking an…


Admitting that Tata Group made a "bunch of mistakes" in the sales and marketing of Nano, iconic business leader Ratan Tata today said branding it as the 'cheapest' rather than most affordable car was the greatest flaw that distanced people from it. "Nano was made to reach out to people, (but) it never has. It is meant to be reachable throughout India with our dealerships. But we made our bunch of mistakes," Tata Sons Chairman Emeritus said during in an interaction with students of Great Lakes Institute of Management during its 11th Convocation here. He said that the biggest mistake was getting the car branded as cheapest rather than most affordable. "...And that had a negative impact on the car in the market, people did not want to be seen in the cheapest car and I think that has been our greatest deficiency that has disenabled the car to perform what it was trying to do," he said. Tata said Nano was designed by a group which had…


NIFTY :: 8335 (-150)
Oversold … Tecchnical Pullback
Nifty having gained  on all the Three weeks, it had corrected for  at least  One week. Reference for  Astro month is the range between  Monday to Thursday (8562 and 8332),
Nifty lost during the week because of global cues and    . Market needs to trade above the last week*s Low   to confirm this  pattern.,    20DMA, 50DMA, 100DMA and 200 DMA are placed at about 8312, 8262, 8322 and 8515 respectively and wouldact as supports / resistances. Nifty is trading  above  most of   the  averages , particularly below 200 DMA, which is a matter of concern. While Nifty continues to trade above  the  200 DMA and 50 DMA too is below  200 DMA (Golden Cross) suggesting that the Bearish  trend is   in   tact..
Technical Levels For the coming week
- Bullish above 8460 with resistance at 8535, 8600, 8675 - Bearish below 8255 with Supports at 8175, 8100, 8075 - Breakout level 8650 and the Breakdown level 8250... 
Advice for…


eMudhra Limited, a leading certifying firm in the country for digital signatures, today launched eSign services. eSign is an online electronic signature service which can facilitate an Aadhaar holder to digitally sign a document within seconds. The signatures generated by eSign are legally valid and secure under the Information Technology Act, 2000, the company said. As part of the Digital India Vision, Prime Minister launched eSign services in the country on July 1.
eSign can "revolutionise" the way business and governance is conducted in the country and pave the way for a digital transformation into a paperless environment, eMudhra said in a statement. The firm which claims to be the first to start eSign services has also launched eMlocker -- eMudhra’s Digital Locker.
By using eMlocker along with eSign, one can store documents such as PAN cards, Aadhaar cards, electricity bills or any other documents electronically. One can also sign and attest them using eSign and send to a…


The net inflows into country's equity mutual fund in June stood at Rs 123 billion (USD 1.92 bn), which is the second-highest into equity MFs ever, Deutsche Bank-equity research-Asia said. The June net inflows are second only to Rs 137 billion (USD 3.5 bn) seen in January 2008. Cumulative net inflows of the past 14 months of Rs 1,041 bn (USD 17 bn) have now surpassed cumulative inflows of the preceding 12 years between January 2002-April 2014 (Rs 934 bn) in nominal terms. In addition, this is the first instance of 14 straight months (May 2014-June 2015) of net inflows, it said. As a consequence of strong inflows and valuation effect, the assets under management (AuM) for equity funds (Equity+ELSS) in June 2015 has shot up to a record level of Rs 3,723 bn (USD 58.3 bn). In addition, the share of equity AuM in the overall mutual fund AuM has risen to 32 per cent against 20 per cent in April'14, it said. As a corollary, the share of debt AuM (fixed income+liquid+gilt) in overall A…


With required measures being taken to improve 'Ease of Doing Business' in the country, the Commerce and Industry Ministry is expecting a significant improvement in India's ranking this year. This year, the ministry expects that India's ranking in the World Bank's Ease of Doing Business report would be in the range of 95 to 105 from the current 142 out of 189 countries, a senior official said, adding India aims to feature among top 50 in the next three years. Although, there has been some changes in the methodology to calculate the rankings,"we are expecting a healthy improvement", the official added. The World Bank's report will come by around October. The official said that during that time, the government would take more measures in this regard. "Within one week, the Department of Industrial Policy and Promotion (DIPP) will circulate a set of recommendations to 14 central ministries and Delhi NCR and Maharashtra. We are suggesting action points…


The confidence level in India continues to grow amid indications of slower growth ahead for the Asia-Pacific region, said a report by global rating firm Standard & Poor's.
Weaker global trade and a Chinese economy still weighed down by the property sector suggest slower growth ahead for the Asia-Pacific region, said the report - 'Asia-Pacific Could Be Entering A Steady State Of Slower Growth'.
It added however that the Asia-Pacific growth story is not all gloom and doom though.
"In India, confidence continues to rise despite concerns about investment quality. Our forecasts of 7.4 per cent growth for 2015 and 8.2 per cent for 2016 are the highest in the region," it said.
Also, the pace of activity is picking up in Japan, and agency said it has raised its forecasts to 0.9 per cent for 2015 and 1.3 per cent for 2016.
"China's property market correction continues to be the region's main risk," said Paul Gruenwald, S&P's Asia-Pacific chief eco…


Stock market benchmark Sensex today tumbled over 483 points, its biggest fall in over a month, to settle below the 28,000-level as rout in Shanghai shares and fears of Greek's eurozone exit rattled investors.
With investors indulging in widespread selling, including in metal and auto shares, the NSE benchmark Nifty also crashed below 8,400-point mark. A fresh weakness in the rupee against the US dollar also dampened the trading sentiment, equity brokers said. Investor sentiment was badly hit following a major sell-off in other Asian markets with a nearly 6 per cent crash in Shanghai despite additional measures announced by the government to shore up the tumbling market, they added.  The 30-share index commenced lower and dipped below the psychological 28,000-mark to touch a low of 27,635.72 before ending at 27,687.72, a fall of 483.97 points, or 1.72 per cent.
This is the biggest one-day fall of the Sensex since a plunge of 661 points recorded over a month ago on June 2.
Selling was w…


During the current week Moon would be transiting  from  Sathabhisham   in Aquarius   to  Aswini in Aries. . . .
Sun transits in Aardra in 4thPada to Punarvasu 3rd Pada in Gemini. ..
Mercury   transits  in  Mrigasira in 4th Pada   and Aardra 2nd Pada . ..
Venus transits in  Makha 1st Pada.
Mars transits in  Aardra in 1st  Pada   and Aardra in 2nd Pada,
Saturn transits in   Anuradha constellation in Scropio sign in 1st Pada  and in Leo Navamsa and remains in  retrograde motion from 14th March to 2nd August, 2015.
Jupiter ,, transits in  Cancer in Aslesha constellation in    Pisces  Navamsa  .
Rahu and Ketu continue their transit in Virgo and Pisces respectively.
Nifty gained on all the Three weeks, it is due for correction for atleast One week.
Astro month for  the month is the Monday to Thursday i.e., 06th  Monday to 9th Thursday., The ramge between the above Two days is the reference range . ,
Nifty Outlook for Next Week :: (06.07.2015 to     10.07.2015) …  
NIFTY :: 8485 (98)
(Overbought …   Te…


From desi ghee to ladoos to pickles, Indian students prefer to pack home made food items when they travel abroad for studies, says a survey.
The survey, done by the airline Virgin Atlantic, found that 'ghar ka khana' (home made) such as ladoos, pickles, desi ghee and spices were among the most preferred items carried by students going to study overseas.
"Food is an important item that students like to carry abroad. The most popular include mangoes, instant noodles and ready to eat food packs. Food apparatus like roti maker and other utensils are a must carry too," it said.
Other items that find their way into their luggages include bicycles, folding mattresses, dumbbells, selfie sticks, ayurvedic medicines and soft toys.
The findings are based on a survey of about 200 students who travelled in Virgin Atlantic for studying overseas, mostly in the US and the UK.






State-run operator BSNL today launched a pre-paid card linked mobile wallet service which would allow its customers to transfer money, pay for services as well as withdraw cash of up to Rs 1 lakh.
The wallet service, Speed Pay, allows a customer to load money even if he does not have a bank account.
The money loaded in the mobile wallet can be transferred to a bank account and even withdrawn at bank branches or at BSNL outlets.
Telecom Minister Ravi Shankar Prasad inaugurated the wallet service here today.
"I remember when after becoming minister, we were giving presentation of Department of Posts to the Prime Minister, the PM asked that can people of UP, Bihar, who work in Kerala and Tamil Nadu, transfer money to their poor mothers? " .... I am happy that today we have taken significant initiative in that direction," Prasad said.
"Loading money into wallet from a bank account is an option. BSNL customers, who don't have bank accounts, can also load money by visitin…


The benchmark BSE Sensex today rose by 147 points to regain 28,000-mark, largely driven by gains in banking, capital goods and FMCG stocks on renewed buying interest by foreign investors and higher government spending. Market sentiment was largely optimistic following upbeat comments from the Reserve Bank Governor Raghuram Rajan. In a statement yesterday, Rajan said the economy is picking up and was in a recovery phase and also the country can withstand any crisis emerging from the Greek fallout. Strengthening of rupee, which climbed to nearly two-month high also bolstered confidence. Meanwhile, to improve farm productivity, the government has decided to spend Rs 50,000 crore over the next five years under the Pradhan Mantri Krishi Sinchai Yojana (PMKSY). "Markets shut on a strong note adding buying till the last leg on the optimism that Greece crisis will be resolved and it will not impact much on Indian equities. Renewed buying from foreign investors after the last month sellin…